North America Household Induction Cooktops Market

North America Household Induction Cooktops Market Size, Share & Industry Trends Analysis Report By Type (Built-In, and Free-Standing & Portable), By Distribution Channel (Offline, and Online) By Country and Growth Forecast, 2023 - 2030

Report Id: KBV-18945 Publication Date: December-2023 Number of Pages: 112
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Market Report Description

The North America Household Induction Cooktops Market would witness market growth of 6.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 6,519.0 thousand units, showcasing a growth of 7.2% (2019-2022).

Household Induction Cooktops are mainly used for cooking or boiling purposes. A household induction cooktop uses a magnetic field, which is used to heat the specially designed cookware placed on the cooktop. Induction Cooktops are a sufficient and easiest means for cooking. It helps reduce waste in the kitchen and, at the same time, is easy to operate. The factors driving the demand are technological advancements and online marketing. Urban population growth also contributes to its growth. The demand for induction cooktops is also high among working women, owing to healthy cooking options and ease of operations.

Energy-conscious consumers are drawn to the efficiency of induction cooktops, appreciating their ability to reduce overall energy consumption in the kitchen. As environmental awareness grows, households seek appliances that align with sustainability goals, and induction cooktops fit well into this narrative. Safety concerns have also played a pivotal role in the rising adoption rates. With features like automatic shut-off and child lock functions, induction cooktops provide a secure cooking environment, appealing to families and individuals alike. This safety-conscious approach has become a significant driver for those looking to upgrade their kitchen appliances.

Induction cooktops are known for their rapid heating capabilities, providing quick and efficient cooking in Mexico. This feature particularly appeals to Mexican consumers who appreciate the ability to prepare meals faster, saving time in their busy lifestyles. Mexicans living in urban environments appreciate appliances that are space-efficient yet offer advanced cooking capabilities. Induction cooktops are compatible with various cookware materials in Mexico, including stainless steel and cast iron. Due to the above-mentioned factors, the market will grow significantly in this region.

The US market dominated the North America Household Induction Cooktops Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,473.1 Million by 2030. The Canada market is experiencing a CAGR of 9.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 8.3% during (2023 - 2030).

Based on Type, the market is segmented into Built-In, and Free-Standing & Portable. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

Free Valuable Insights: The Household Induction Cooktops Market is Predict to reach $21.1 Billion by 2030, at a CAGR of 7.1%

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Whirlpool Corporation, LG Corporation, Panasonic Holdings Corporation, Sub-Zero Group, Inc., Haier Smart Home Co., Ltd. (Haier Group Corporation), Koninklijke Philips N.V., Robert Bosch GmbH, SMEG S.p.A., AB Electrolux, and Miele & Cie. KG.

Scope of the Study

Market Segments Covered in the Report:

By Type (Volume, Thousand Units, USD Billion, 2019-2030)

  • Built-In
  • Free-Standing & Portable

By Distribution Channel (Volume, Thousand Units, USD Billion, 2019-2030)

  • Offline
  • Online

By Country (Volume, Thousand Units, USD Billion, 2019-2030)

  • US
  • Canada
  • Mexico
  • Rest of North America

Key Market Players

Companies Profiled

  • Whirlpool Corporation
  • LG Corporation
  • Panasonic Holdings Corporation
  • Sub-Zero Group, Inc.
  • Haier Smart Home Co., Ltd. (Haier Group Corporation)
  • Koninklijke Philips N.V.
  • Robert Bosch GmbH
  • SMEG S.p.A.
  • AB Electrolux
  • Miele & Cie. KG
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